Steel Dynamics, Inc. (NASDAQ:STLD) Stock Position Lifted by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 7.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,339 shares of the basic materials company’s stock after buying an additional 245 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Steel Dynamics were worth $381,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Holocene Advisors LP raised its position in shares of Steel Dynamics by 85.8% during the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after buying an additional 1,060,007 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Steel Dynamics by 116.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock valued at $128,434,000 after acquiring an additional 548,086 shares during the period. Nordea Investment Management AB raised its holdings in Steel Dynamics by 22.4% during the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after purchasing an additional 253,802 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its position in Steel Dynamics by 192.4% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 250,621 shares of the basic materials company’s stock worth $28,577,000 after purchasing an additional 164,895 shares during the period. Finally, World Investment Advisors LLC acquired a new position in shares of Steel Dynamics during the 3rd quarter valued at $15,880,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In related news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at approximately $2,927,763.75. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. The Goldman Sachs Group started coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective for the company. Citigroup lowered their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and increased their target price for the company from $125.00 to $145.00 in a research note on Friday, January 24th. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, StockNews.com downgraded Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $143.38.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $127.05 on Wednesday. The company has a market cap of $19.34 billion, a P/E ratio of 12.96 and a beta of 1.36. The company’s fifty day moving average is $126.63 and its two-hundred day moving average is $126.31. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.25% and a net margin of 8.76%. During the same period in the previous year, the company earned $2.61 earnings per share. Equities analysts expect that Steel Dynamics, Inc. will post 8.93 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is currently 18.78%.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.